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Unemployment Numbers Smell Fishy

Posted by Steve Markowitz on October 5, 2012

The US Department of Labor today released September’s employment numbers.  While at first blush with the unemployment rate dropping from 8.1% to 7.8% this seemed to be a positive report, it does not take much digging to be perplexed by the supposed improvement.

  • According to the Labor Department, the private sector added 114,000 new jobs in September that reduced the unemployment rate by 0.3%.  Yet for August, a higher figure of 142,000 jobs were added, but the unemployment rate then only decreased by 0.1%.  This discrepancy is explained by the fact that the government stops counting people as unemployed who no longer look are actively for a job.  In other words, the government has determined that the total labor force has decreased.  That is some sleight-of-hand!
  • For September, the government reported that the total number of people employed increased by 873,000, while the total unemployed dropped by 456,000.  It takes some type of special mathematics to come up with these numbers given that the private sector only added 114,000 new jobs.

The discrepancy in the employment figures is either the result of purposeful manipulation for political purposes or governmental incompetence.  Given that it is one of the last reports prior to the presidential election, it certainly smells unclean.  Below is former General Electric CEO Jack Welch’s conclusion on this matter.  As they say, if it quacks like a duck it is not a zebra.

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3 Responses to “Unemployment Numbers Smell Fishy”

  1. Jim L said

    Jack welch was the Secretariat of all CEO’s and GE replaced him with a liberal jackass. Where have all the great CEO’s gone.

  2. Carl Hackert said

    FROM DRUDGE: one large state did NOT report quarterly numbers.Are they “cooking the books”? Answer: The books never got here.

    SURPRISE: Jobless claims plunge…

    Lowest level in four years…

    ‘One large state didn’t report some quarterly figures’…

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